Nigeria’s telecommunications firm, Visafone Communications’s commencement of a private placement in order to raise Naira (N) 30 billion.
The offer which kicked off on Monday is expected to run through till early next month. Visafone is offering 100 000 units to investors at N16.90 per share, with Zenith Capital as the issuing house to the offer.
The company said that the proceeds of the offer would be be employed to fund base station expansion, fibre backbone and increase the working capital among other projects.
Visafone has within ten months of operation carved a niche for itself in terms of quality service, steady increase in subscriber base, increase in coverage areas and many more.
Presently, the company boasts of services in about 18 states of the federation including 160 cities and towns. Visafone also boasts of an existing installed capacity to support up to 5 million subscribers.
The company is the only telecommunications company presently in Nigeria that has a combination of a United Access License and 800MHz spectrum across all Nigerian states–ITNewsAfrica.com
